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CHFJPY | Perspective for the new week60pips against us since my last publication on this pair (see link below for reference purposes); Price finally touches Y117.500 zone just like it did in August 2020 to make a Double Top structure. This was met with rejection followed by Lower Lows in the latter part of last week trading session. Tendency: Downtrend ( Bearish ) Structure: Reversal pattern | Supply & Demand | Double Top Observation: i. Since July 2020, price action has been caught within a channel of Supply and Demand. ii. The appearance of a Reversal pattern since price hits Y117.500 has given rise to a risk of further decline in the coming week(s). iii. I shall be expecting a significant Breakdown of Key level @ Y116.400 (Neckline) for a signal this week. Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:3 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
3
CHFJPY, 4hr tf, sell on breakout of triangle patternHello my friends, Today is friday and we are going to trade lightly today. I found a good setup on CHFJPY pairs. This pair recently broken below the support of a triangle pattern which has formed since September till November. Yesterday it finally close below it and i think today is a retest of this broken support. We could expect downside to next support at 113.15 Sell CHFJPY 104.05 Stop loss 104.35 Take profit 103.20 (2.8R) RR ratio 1 : 2.8 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
CHFJPY, daily tf, sell trend line retestHello my friends, For today i am gonna trade JPY crosses pairs, as the US election could trigger risk-off sentiment. It looks like we could see it goes wild with current development. To keep it simple, we will only focus on the price action. Price already broken below the ascending trend line and now retesting it. I've marked the horizontal support and resistance as well. This 114.60 area is an area of confluences as there is horizontal and EMA resistances. You could clearly see some selling pressure here as the last candle stick looks like a bearish pinbar candle. Sell CHFJPY 114.60 Stop loss 115.10 Take profit 113.25 RR ratio 1 : 2.5 (2.5R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
CHFJPY SWING TRADE 12-OCT-2020Good day friends. Give us a thumbs up if you like our idea. Follow my profile to get new ideas and trade setups everyday CHFJPY-Technical analysis ⚡️price is well below the 116.00 and key resistance level ⚡️Rising wedge formation is about to end which is a clear sign of Bearish trend ⚡️Swing target would be 114.400 ⚡️115.00 Area will act as barrier for bear ⚡️CHFPY has reached the upper side of the Bollinger bands SWING TRADE -CHFJPY Sell @ 115.850 Take profit @ 114.420 Stop lose @ 116.370 140 Pips target Don't risk more than 1% of your capital
Long
by forexorbit
CHFJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CHFJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Market reached monthly resistance and after rejection started downward move. W > Price dropped to complete W formation and continued further till demand zone before reversal. D > We saw an M formation and price moved up to test the neck and complete formation. We now expect price to drop and test weekly demand zone. As per COT CHF saw closure of Long and addition of few Short positions reducing net positions. SXY was very weak for the said week. SXY was strong last week. JPY had closure of both Long and Short reducing net positions, this made JXY weak for the said week. Whereas JXY slightly recovered its position last week. 4H > Price is making HH, we will have to wait for price reversal for Short entry. Pair Correlation > CHFJPY has positive correlation with EURJPY and negative correlation with USDCHF. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX
3